There's a new economic model emerging for the media and entertainment industries. Unlimited selection is revealing truths about what consumers want and how they want to get it. The future's likely to be very different to today's mass market culture.
"If the 20th- century entertainment industry was about hits, the 21st will be equally about misses.
For too long we've been suffering the tyranny of lowest-common-denominator fare, subjected to brain-dead summer blockbusters and manufactured pop. Why? Economics. Many of our assumptions about popular taste are actually artifacts of poor supply-and-demand matching - a market response to inefficient distribution.
The main problem... is that we live in the physical world and, until recently, most of our entertainment media did, too." Source: Wired Magasine
Read the article here: 'The Long Tail': Forget squeezing millions from a few megahits at the top of the charts. The future of entertainment is in the millions of niche markets at the shallow end of the bitstream.
A long but interesting article. And great news for creative types, everywhere.
Comments